US Bancorp DE Has $16.65 Million Holdings in Enbridge Inc. (NYSE:ENB)

US Bancorp DE lowered its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 409,914 shares of the pipeline company's stock after selling 14,666 shares during the period. US Bancorp DE's holdings in Enbridge were worth $16,647,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Grove Bank & Trust grew its position in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock worth $32,000 after buying an additional 280 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Enbridge during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

NYSE ENB traded up $0.02 on Friday, reaching $40.42. 4,900,468 shares of the stock traded hands, compared to its average volume of 2,786,965. Enbridge Inc. has a 12 month low of $32.65 and a 12 month high of $42.16. The company has a market cap of $88.02 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 3.91 and a beta of 0.93. The firm's fifty day simple moving average is $40.73 and its 200 day simple moving average is $38.00. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $4.28 billion. During the same quarter last year, the business posted $0.51 earnings per share. As a group, research analysts predict that Enbridge Inc. will post 2.07 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.69%. Enbridge's dividend payout ratio (DPR) is 137.50%.

Analyst Ratings Changes

ENB has been the subject of several recent analyst reports. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.